2020 has proved to be a year of roller coaster rides for the event industry and businesses around the world. COVID-19 has proved to be a catalyst for the spike in virtual events. The percentage of virtual events has skyrocketed in 2020. As the orders have been released for the travel bans and mass gatherings across the globe, to maintain social distancing for health safety, organizations have moved their internal and external events online. Organizing virtual AGM, virtual trade shows, virtual job fairs, etc. has become a new trend.
A sudden surge in the demand for virtual event platforms has been witnessed recently. Today, the internet is flooded with ample virtual event platforms that offer comprehensive solutions. Selecting the best out of it depends on the needs and requirements of your business.
AGMs are a crucial event of the organization that is held annually every year. It involves a gathering of all the interested stakeholders/shareholders and the director of the company. Wherein they discuss the overall performance of the company for the entire year and discuss the goals and objectives for the upcoming year. Moving ahead by adapting the new reality, virtual has become the new normal. Organizations around the world have shifted their most crucial event i.e. AGMs (annual general meetings) online. Out of the ample virtual AGM solutions available in the market, selecting the best virtual AGM platform that suits your requirement is a tricky task. In this post, we have enumerated the points you need to consider while selecting a virtual AGM platform for your event. We hope the pointers listed below will help you steer your decision-making process. Time to get started!
Points to keep in mind while selecting a virtual AGM platform
1. Determine a budget and select accordingly
The cost of virtual AGM solutions plays the biggest role in many organizations. The cost of a virtual AGM platform depends upon the number of features it offers along with audience capping capacity.
Firstly, before making out an attempt to look for a virtual AGM platform service provider outline the features you need. Figure out an approximate number of attendees you wish to host and what meeting capacity you require. Once you know what features to look in and the meeting capacity you require, start looking out for service providers. Search for virtual events service providers that offer customizable packages that best suit your needs and requirements. However, customizable packages or tailored solutions result in saving your money. You don’t have to pay for the features that aren’t utilized during the event resulting in cutting down the costs.
2. Look out for the features of a virtual AGM platform
Once you have cleared the constraint of cost, looking out for the features of a virtual AGM platform comes next. Every organization has varied needs and needs different sets of features for the seamless execution of virtual AGMs. But here, some virtual AGM platform features are useful for every organization. One must ensure to seek these features while selecting a platform to have free-flowing conversations along with valuable data tracking. Here is a list of must-have features offered by the virtual AGM platform:
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Live Polling
The live polling feature is a must to have to gain attendees/shareholder’s insight and opinions. It is one of the significant features that help in a decision-making process.
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Ability to Organise Q&A
Q&A features help in boosting shareholder’s engagement. The platform should facilitate them to ask their questions in real-time and get the answers pre, post, or during virtual events.
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Digital footprinting
Digital footprinting is a must-have feature in any virtual platform. It enables you to get a detailed insight into how many shareholders joined the virtual AGM and how many dropped out amid. It helps in tracking and keeping a record of attendance.
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Offering a detailed analytics report
The platform must compile a feature of offering detailed analytics reports for performance metrics.
3. Select a platform that has robust security measures
Security remains the top concern while hosting virtual AGMs as the risk of leaking confidential information prevails. Go with the platform that offers robust security measures and prevent third-party authorization to access the ongoing virtual AGM. The platform you select must have two-factor authentication and secure event data storage capacity. The best virtual AGM platform keeps your privacy intact 24*7.
4. Check for the accessibility
The virtual event platform you select for organizing a virtual AGM should be accessible from all devices and browsers. It helps in boosting the attendance at the virtual AGM. However, it enables shareholders to access the meeting at their own convenience from any device or browser. All the shareholders are not tech-savvy and may join the meeting via a mobile device instead of a desktop or PC. Ensure your virtual AGMs are accessible from mobiles as well without any compromise on functionality.
5. Check the audience capping feature
While selecting the best virtual AGM platform for organizing virtual AGM, check for the meeting capacity. Enquire service providers about the audience capping feature that how many attendees a platform can host at a time. You must ensure the platform you choose has enough capacity of hosting a number of shareholders you have enlisted. The virtual event platform should accommodate all the stakeholders/shareholders. Going with the platform that offers no audience capping feature is the right choice as it can host as many participants you want.
6. Backed by 24*7 support
Look for a platform that is backed by 24*7 tech and customer support. For a seamless execution of a virtual AGM, 24*7 tech support is a must. It helps in resolving any queries or technical errors faced by virtual attendees promptly. Additionally, it helps in reducing the wastage of time during the fixation of technical errors. If attendees want to troubleshoot ahead of time, tech support should be provided to them by the platform.
Final Thought
Tody, leveraging virtual AGM platforms has become a necessity for organizations to conduct AGMs online. It helps in connecting with shareholders residing in different geographical locations seamlessly. An increase in the participation of shareholders has been witnessed after AGMs have been moved online. However, selecting a reliable, secure, and engaging virtual AGM platform is the key. By keeping in mind the above-mentioned key points you can select the right platform that suits your needs. Hope the pointers will help you navigate and call out the best decision.
